Anika Therapeutics (NASDAQ:ANIK) Shares Pass Above 200 Day Moving Average of $24.85

Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.85 and traded as high as $25.97. Anika Therapeutics shares last traded at $25.85, with a volume of 40,951 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on ANIK. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Barrington Research reiterated an “outperform” rating and issued a $37.00 target price on shares of Anika Therapeutics in a report on Thursday, May 9th. Finally, Stephens restated an “equal weight” rating and set a $24.00 price target on shares of Anika Therapeutics in a report on Wednesday, May 29th.

Anika Therapeutics Trading Up 2.1 %

The firm’s fifty day simple moving average is $25.96 and its 200 day simple moving average is $24.85. The company has a market cap of $377.15 million, a price-to-earnings ratio of -4.92 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $40.52 million for the quarter, compared to analyst estimates of $39.23 million. Anika Therapeutics had a positive return on equity of 0.48% and a negative net margin of 45.39%. As a group, sell-side analysts expect that Anika Therapeutics, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Anika Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners acquired a new position in Anika Therapeutics in the first quarter valued at approximately $733,000. Lazard Asset Management LLC acquired a new position in shares of Anika Therapeutics in the 1st quarter valued at $180,000. Acadian Asset Management LLC grew its position in shares of Anika Therapeutics by 25.8% in the 1st quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock valued at $10,701,000 after buying an additional 86,436 shares during the last quarter. Capital Management Corp VA raised its stake in Anika Therapeutics by 2.4% during the 1st quarter. Capital Management Corp VA now owns 364,025 shares of the biotechnology company’s stock worth $9,246,000 after acquiring an additional 8,491 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Anika Therapeutics by 1.3% in the first quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock valued at $19,652,000 after acquiring an additional 9,657 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.